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HONG KONG, CHINA--(Marketwired - Feb 4, 2016) - Johnson Electric Holdings Limited ("Johnson Electric") ( HKSE : 179 ), a global leader in electric motors and motion subsystems, today announced that it has signed a binding offer to acquire AML Développement, which is the holding company of AML Systems ("AML"). AML is a leading supplier of active modules for vehicle headlamp systems. Under the terms of the offer which is in the form of a "put" option agreement, subject to the selling shareholders exercising the put option following information and consultation processes with the employees and their representatives, Johnson Electric would acquire the entire share capital of AML Développement for EUR 65 million in cash.

AML, headquartered in Le Bourget, France, is a leading supplier of headlamp levelers, smart actuators and headlamp cleaning systems for the automotive industry with consolidated revenues for the year ended 30 June 2015 of EUR 99.6 million. Employing approximately 500 individuals, AML operates two production facilities, one in France and one in China. AML has a strong R&D team of 60 employees located in France and in China serving automotive suppliers worldwide. Since its spin-off from Valeo Group in 2010, AML has been under majority ownership by Syntegra Capital, a private equity firm.

Dr. Patrick Wang, Johnson Electric's Chairman and Chief Executive, commented, "AML's headlamp product offering will complete Johnson Electric's product portfolio in the segment. With AML's know-how and over 20 years of experience in headlamp actuation, the combined business will be able to offer solutions that improve visibility and enhance safety of drivers and other road users."

Johnson Electric has agreed to acquire AML in an all-cash transaction that values the entire share capital of AML Développement at EUR 65 million. Johnson Electric will finance the acquisition with a combination of its current cash balances and proceeds from existing revolving credit facilities. After completion of the transaction, Johnson Electric shall cause AML Développement, using its cash reserves where applicable, to repay the existing financial indebtedness, which amounts to EUR 7.5 million.

Following the information and consultation processes with the employees and their representatives and the exercise of the put option by the selling shareholders, the parties would execute a share purchase agreement. The transaction is expected to close in the second quarter of 2016, subject to customary conditions including obtaining applicable regulatory approvals.

The Johnson Electric Group is a global leader in electric motors and motion subsystems. It serves a broad range of industries including automotive, building automation and security, business machines, food and beverage equipment, home technologies, HVAC, industrial equipment, medical devices, personal care, power equipment and power tools. The Group is headquartered in Hong Kong and the total global headcount stands at over 37,000 individuals located in Asia, the Americas and Europe. Innovation and product design centres are located in Hong Kong, China, Canada, Switzerland, Germany, Italy, Israel, Japan, the UK and the USA. Johnson Electric Holdings Limited is listed on The Stock Exchange of Hong Kong Limited ( HKSE : 179 ). For further information, please visit: www.johnsonelectric.com.

Forward Looking Statements

This news release contains certain forward looking statements with respect to the financial condition, results of operations and business of Johnson Electric and certain plans and objectives of the management of Johnson Electric.

Words such as "outlook", "expects", "anticipates", "intends", "plans", "believe", "estimates", "projects", variations of such words and similar expressions are intended to identify such forward-looking statements. Such forward looking statements involve known and unknown risk, uncertainties and other factors which may cause the actual results or performance of Johnson Electric to be materially different from any future results or performance expressed or implied by such forward looking statements. Such forward looking statements are based on numerous assumptions regarding Johnson Electric's present and future business strategies and the political and economic environment in which Johnson Electric will operate in the future.